S&P 500 Index opens flat ahead of Powell’s speech

Following Tuesday’s rally, major equity indexes in the US opened in a relatively calm manner on Wednesday as investors refrain from taking large positions while waiting for first-quarter earnings figures and FOMC Chairman Jerome Powell’s speech.

As of writing, the Dow Jones Industrial Average was up 0.45% on the day at 33,829, the S&P 500 Index was posting small gains at 4,146 and the Nasdaq Composite was losing 0.15% at 13,966.

Among the 11 major S&P 500 sectors, the Energy Index is up 1.75% supported by a nearly-2% increase in US crude oil prices. On the other hand, the Communication Services Index is the worst performer after the opening bell, losing 0.4%.